Accounting and outsourced finance pricing

Two companies with the same revenue can have very different finance workloads. One may issue a few invoices and have no employees. The other may handle many customer payments, several currencies, payroll, reconciliations and management reporting. Revenue alone therefore does not explain the work needed to keep the books current and make the figures useful.

Start by identifying the tasks you want handled and who handles them today. A proposal for entering invoices and receipts is different from one for an external finance function covering controls, reporting and advice. Compare the deliverables on the same basis before comparing the amounts.

We need to understand both the volume of work and its complexity. The following points help describe your requirements; they are not a published price list or an automatic pricing formula.

• Documents and transactions: their number and type, and how much already transfers automatically.
• Employees and payroll: how many people are paid, and which changes and pay components need handling.
• Business structure: whether the work covers one or several entities, with departmental or project breakdowns.
• Sales and payments: channels, currencies, payment platforms and the work needed to reconcile them with the accounts.
• Reporting: the figures, comparisons and explanations needed by management, boards or investors.
• The state of the accounts: whether the records are current or gaps and earlier periods need attention first.

A high transaction count does not necessarily mean many hours of manual work. A working integration can simplify recording, while missing documents and unexplained differences can require follow-up. We therefore consider the processes around the figures as well as the number of entries.

Use the service description to make the engagement specific. Who records supplier invoices and customer receipts? Who follows up on missing documents? Will we process payroll, file VAT returns and reconcile the bank? Do you need reporting, and which periods and comparisons should it cover? These questions give you more to work with than a general statement that the accounts will be handled.

Read our descriptions of bookkeeping and payroll, controlling and reporting and financial consulting. Identify the parts that address your actual needs and have them defined in the proposal.

Getting started may involve reviewing the chart of accounts, arranging system access, checking balances and setting up integrations. If the books are behind, earlier periods may need a separate review. That work differs from maintaining records once the starting position is clear.

Ask for a clear description of the setup work, the assumptions behind the proposal and how any additional work will be agreed. If you are changing providers, our handover guide can help you gather information on the current position and outstanding tasks before the engagement begins.

The total budget for your finance function may include more than the bookkeeper’s fee. Clarify how software licences and integration tools are treated and who pays for them. Also establish who handles the annual report and any audit. Do not assume these items are included simply because they relate to the accounts.

Your own contribution matters too. If you issue customer invoices, collect documents and approve purchases, make that role explicit. Automation can reduce repeated data entry, but employees still need to explain purchases and provide information the system does not have. Read about automation and integration.

• Your current accounting and payroll software, plus the other systems that need to connect to them.
• An approximate employee count and a description of document and payment volumes.
• The tasks you handle internally and those you would like help with.
• The reporting you need, who uses it and how often.
• Your preferred start date and known issues such as open periods, missing reconciliations or a planned software change.

You do not need every answer before getting in touch. Describe your business and the finance work you want to change. We can then discuss the requirements and assumptions so a proposal can reflect a specific service. Send a brief description through the contact form; sensitive documents and payroll information can wait until their transfer has been agreed.